Subject: Invalid Compensating Factors - tip of the day

Good Morning

Today is Friday, January 27, 2012

All wholesale staff is available

Turn times are 24 hours!

Tip of the day – Invalid Compensating Factors

Per the FHA Credit Webcast on 01/26/2012, the following are

NOT to be considered as compensating factors on a loan:

•Reserves as the result of a gift

•Good credit

•Long time on job or in current home

•Spouse not on loan

•Cost of Living Allowance (COLA)

•Paying off debt

•Tax advantages of homeownership

Thank You!

Neil Johnson

Gateway Mortgage Group

National TPO Operations Manager

4201 N. State Hwy 161

Irving, TX 75038

neil.johnson@gatewayloan.com

Office: 972-908-3390  ext. 118

fax# 918-858-8392